GQG Partners Emerging Markets Equity Fund
ADVISORS' INNER CIRCLE III · Series S000056013 · 3 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q3
The GQG Partners Emerging Markets Equity Fund (the Emerging Markets Equity Fund or the Fund) seeks long-term capital appreciation.
The fund invests at least 80% of assets in equity securities of emerging market companies, selected through bottom-up fundamental analysis that seeks quality businesses with sustainable earnings growth, reasonable valuations, and strong returns on capital. The adviser identifies candidates via proprietary screening and rigorous research, then constructs a portfolio unconstrained by benchmark sector weights, relying on individual stock selection rather than macro positioning. As a non-diversified fund, it may concentrate a larger percentage of assets in a smaller number of issuers than a diversified fund. The fund may sell holdings if competitive advantages deteriorate, price targets are met, or more attractive opportunities emerge.
| Share class | Expense ratio |
|---|---|
| GQGPX | 1.18% |
| GQGIX | 0.98% |
| GQGRX | 0.98% |
Portfolio turnover 97.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.91% |
| Cash & short-term | 1.45% |
Latest quarter
What changed since the fund's previous filing
Largest new: Contemporary Amperex Technology Co., Ltd., CHINA CONSTRUCTION BANK CORPORATION, INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, HON HAI PRECISION INDUSTRY CO., LTD., Hong Kong Exchanges and Clearing Limited, INFOSYS LIMITED, PetroChina Company Limited, NETEASE, INC.
Largest exited: ICICI BANK LIMITED, SUN PHARMACEUTICAL INDUSTRIES LIMITED, PT Bank Mandiri (Persero) Tbk, KO, DBS GROUP HOLDINGS LTD, AL RAJHI BANKING AND INVESTMENT CORPORATION SJSC, State Bank of India, KRUNG THAI BANK PUBLIC COMPANY LIMITED
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +6.45% | +35.98% | +13.19% | 10.80% | -9.42% | |
| +6.76% | +37.02% | +14.42% | 10.73% | -9.22% | |
| +6.70% | +36.94% | +14.42% | 10.74% | -9.43% |
These classes hold the same portfolio, so the 1.23pp spread over 5 years is the cost difference between them — roughly 0.25pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Taiwan Semiconductor Manufacturing Company Limited | 10.30% | $78.89 | $2.15B | 27.2M |
| PBR | Petroleo Brasileiro S.A. (Petrobras)PBR | 4.01% | $16.16 | $834.98M | 51.7M |
| — | Petroleo Brasileiro S.A. (Petrobras) | 3.79% | $7.30 | $788.98M | 108.1M |
| — | TOTALENERGIES SE | 3.37% | $77.37 | $701.72M | 9.1M |
| PM | Philip Morris International Inc.PM | 3.23% | $180.91 | $673.80M | 3.7M |
| — | AIA Group Limited | 3.02% | $9.16 | $628.52M | 68.6M |
| — | ADANI POWER LIMITED | 2.83% | $2.37 | $589.90M | 249.3M |
| — | BHARTI AIRTEL LIMITED | 2.43% | $19.59 | $506.53M | 25.9M |
| — | BP P.L.C. | 2.30% | $6.17 | $479.05M | 77.7M |
| — | Tencent Holdings Limited | 2.10% | $55.19 | $437.22M | 7.9M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 37.37% of net assets, top 25 62.33%, across 71 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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